Solutions to achieve & maintain regulatory compliance that
Why It Matters
Most organizations don’t understand the scope of regulatory compliance. It’s a common misconception that regulatory compliance is only required of specific industries. While some industries are more regulated than others, most regulations apply to types of data regardless of the industry.
If you run a construction firm and someone is hurt on the job, the Work Status Report sent by the Workers Comp clinic is considered Protected Health Information (PHI), and your firm is required to maintain all required HIPAA safeguards for that report.
If your business has a website, and a California Resident submits a webform on your site, you may now be required to comply with the California Privacy Rights Act (CPRA). If someone in the EU views your website, you must comply with GDPR–even if you do not yet do business in the EU!
What about Cyber Liability Insurance?
Cyber Liability Insurance is an important tool to protect your business from the civil and financial liabilities associated with data breaches and other cybersecurity attack. However, like most of the tools that keep your business running, it’s not a standalone solution.
Insurance without Coverage
Cyber Liability Insurance can help reduce the risk associated with Cybersecurity attacks, if you follow the provisions of your policy. These provisions almost always include due care clauses that require you to maintain the minimum standards as dictated by applicable regulatory compliance or a minimum industry standard. Moreover, if you where compliant at the time you purchased your policy, but failed to continually implement procedures and controls, your claim could also be denied.
Knowing How Much Coverage is Enough Covering
This could be very tricky for business that have not undergone a standard risk assessment. Unlike standard general liability policies, most insurance brokers would be unable to help your business understand the Single Loss Expectancy (SLE) or the Annualize Loss Expectancy (ALE). Since there is no simple replacement cost to a loss due to a cyberattack, most organizations can find themselves underinsured.
The Isidore Group Compliance-as-a-Service (CaaS) solution can help your organization achieve and maintain compliance with multiple state, federal, and international regulations, including HIPAA, GDPR, NIST-CSF, and CMMC, and manage the due care requirement for your cyber liability insurance.
Regular Comprehensive Risk Assessments
Compliance is a continuous part of business operations. Our CaaS solution includes ongoing monitoring and audits of your physical, technical and administrative risks to pinpoint areas that need attention.
Documented Evidence of Compliance
Verifiable proof is a requirement and often the biggest challenge. We ensure you have all the documentation and audit logs required to validate due diligence efforts.
Avoid Claim Denials and Reduce Premiums
Insurance companies reward businesses that demonstrate proactive and preventative security controls. Maintaining due care security requirements can also help you avoid costly denied claims.
Customized Remediation Plans
We understand that no two business are alike, even within the same industry. That is why we provide comprehensive remediation plans that are customized to address the specific needs or risks of your business.
Reduced Security Risk
Gearing up for compliance is a win-win situation. Compliance regulations require increased data privacy and security measures, ultimately fortifying your business in the process.
Certificate & Audit Prep
Preparation and planning are key to passing the certification. We walk you through every step to make sure your business is on track to meet certification requirements and is fully prepared for an audit.